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Wakenight & Associates, P.C.

9405 Bormet Drive, Suite 7, Mokena, IL 60448

Mokena | 815-727-6144

DuPage County | 630-852-9700   Oak Park | 708-848-3159

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Mokena child support attorneyDivorcing when you and your spouse have children can be much more difficult than if you did not have children. In addition to worrying about your own feelings about the divorce and your well-being, you also have to worry about how the divorce will affect your children. In addition, there are a few more issues you will have to tackle before you can finalize your divorce, such as your children’s living arrangements, your parenting time schedules, and child support. In Illinois, courts can order one or both parents to provide financial support for a child until the child reaches the age of 18 or they graduate high school, whichever comes later. There is quite a bit that goes into the calculation of child support, so it is important to understand how these obligations are determined.

Determining the Basic Child Support Obligation

The state of Illinois calculates child support using an “income shares” model. This means that the amount of support each parent owes the child is based on his or her income and the percentage of the total household income he or she provides. First, a Gross to Net Income Conversion Table provided by the Illinois Department of Healthcare and Family services is used to determine each spouse’s net income. Next, those values will be added together to find the combined net monthly household income.

An Income Shares Schedule will then be used to determine the basic support obligation amount based on the parents’ combined net income and the number of children. The amount of this obligation will be split between the two parents, depending on each parent’s contribution to the monthly household income. Typically, the non-custodial parent will pay their portion of the obligation to the custodial parent, and it will be presumed that the custodial parent will be directly using their portion of the obligation to provide for their children’s needs.

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New Lenox divorce lawyer financial issues

In the Chicago area, the cost of divorce can run from about $3,500, if there are no children and no disagreements over assets, debts, and money, to over $30,000 if there are these and other types of conflicts. The more you fight, the more you go to court, the higher the cost.

At the Divorce and Family Law Offices of Wakenight & Associates, P.C., we know divorce and family law inside and out. Every single day, our attorneys work with and help clients such as yourself. In every case, we aim high, and our first and primary objective is to attempt to reach an agreement on every issue.

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Orland Park asset division attorneyGetting a divorce is a major change in your life. When you are married, almost every aspect of your life -- bank accounts, credit cards, living arrangements, mortgages, and even personal belongings -- becomes intertwined with your spouse’s. Though this can make life simple during your marriage, it can end up making things difficult when you decide to get a divorce. 

Factors for Consideration During Asset Division

Before the judge will begin dividing marital property, he or she will first make determinations about what is and is not subject to division. Only marital property is subject to division in Illinois divorces. Marital property includes any assets or debts that were acquired after a couple was married. When dividing marital property, the judge will consider the following factors:

  • Each spouse’s contribution to the acquisition and/or increase/decrease in value of marital property
  • Whether either party dissipated marital assets
  • Whether or not either spouse contributed to the household as a homemaker
  • The value of the assets assigned to each spouse
  • How long the marriage lasted
  • The economic circumstances of each spouse
  • Any obligations that either spouse has from a prior marriage
  • Any valid prenuptial or postnuptial agreements in place
  • The age, health, occupation, sources of income, employability, vocational skills, and needs of each spouse
  • The parenting arrangements for the couple’s children, if applicable
  • The opportunity for each spouse to acquire future assets or income
  • The tax consequences of the asset division for each spouse

Get in Touch With a Will County Asset Division Attorney

In your divorce case, the judge must resolve all the issues in your case for the case to be resolved. Dividing up your assets and debts is just one of many issues you must handle. At Wakenight & Associates, P.C., we can help you come up with a property division agreement that you and your spouse both agree on. Our skilled New Lenox, IL property division lawyers will advocate for your best interests in all matters during your divorce. Call our office today at 815-727-6144 to schedule a free consultation.

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Tinley Park child custody attorney parenting planSome of the most highly contested issues in Illinois divorce cases are those involving children. Both parents are entitled to certain rights when it comes to their children, and this includes both mothers and fathers. Most child-centered issues resulting from a divorce must be accounted for in a parenting plan. 

A parenting plan is a document that outlines and allocates both significant decision-making responsibilities and decision-making responsibilities. A parenting plan can come in handy when issues arise after the divorce is finalized. As part of a divorce decree, this document is enforceable by the court, and parents are required to follow the plan unless it is modified at a later date.

Elements of a Parenting Plan

During a divorce case, Illinois courts require that both parents submit a parenting plan to the court, either separately or jointly. If you and your spouse are unable to come to an agreement on your own, the court will likely order you to attend mediation to help you formulate a parenting plan. If that still does not work, parenting time and decision-making responsibilities will be allocated based on what the judge determines to be in children’s best interests. 

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Mokena divorce attorney stay at home parentAs recently as 30 years ago, it was not uncommon for one parent to work while the other parent stayed at home. While this arrangement may be less common today, there are still many cases in which a parent remains in the home to raise a couple’s children. Typically, the stay-at-home parent was the mother, but in recent years, stay-at-home fathers have become more prevalent. According to the Pew Research Center, the number of stay-at-home fathers has nearly doubled since 1989. Traditionally, stay-at-home mothers were the spouses that had to worry about finances and income when they got a divorce, which is why many states’ alimony laws seem to be biased toward women. However, either spouse is eligible to be considered the receiving party in divorce cases in which spousal support is awarded. 

Divorce is stressful, but it can become even more stressful when you are a stay-at-home parent. Here are a few tips that can help you ensure you get what you deserve in your divorce:

Consider Hiring an Accountant

One of the issues that many stay-at-home parents face is not knowing much about their family’s finances or not having access to the finances at all. One way you can combat that issue is by hiring an experienced attorney and accountant who can help you make sense of your financial situation. You are entitled to an equitable share of your marital property, and an accountant can help you figure out what exactly that entails. Even if you and your spouse have an accountant that you have used for years, hiring your own accountant can help you ensure that your interests are being taken care of.

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